Daimler steps up electric-truck rollout as Tesla rivalry looms
Businessam Staff
October 30, 2017
Daimler AG is stepping up plans to roll out electric-powered trucks as the world’s largest maker of commercial vehicles seeks to fend off newcomers like Tesla Inc. and Deutsche Post AG. The German automaker has started initial production runs of the Fuso eCanter urban delivery truck and expects such models to vie with traditional diesel […]
Skye Bank storms Obafemi Awolowo University with ‘Ref ‘n’ Win’ promo
Businessam StaffOctober 29, 2017
As part of its engagement initiative to drive financial inclusion among the youth in Nigeria, Skye Bank Plc. is organising a nationwide campus visitation to promote its ‘Ref n Win’ campaign, with the first stop at Obafemi Awolowo University, Ile-Ife Monday. ‘Ref n Win’ campaign provides students and the academic communities an opportunity to experience […]
British Airways apologises to irate mother for disgusting bed bug infestation on flight to London
Businessam StaffOctober 27, 2017
When you see little bugs crawling out of the seat in front of you, consider moving to another row before it’s too late. To be honest, I’ve always been wary of encountering bed bugs while occasionally staying overnight in less-than-stellar accommodations. However, I’ve never thought I would have to worry about finding these nasty, blood-sucking […]
Merck swings to 3q loss on big charge, raises forecast
Businessam StaffOctober 27, 2017
Lower sales for multiple medicines and a whopping charge for a big cancer drug collaboration drove Merck & Co. to a third-quarter loss of $56 million, but it still beat the muted expectations of Wall Street. The Kenilworth, New Jersey, company noted that a June cyberattack that shut down some factories temporarily cost it $310 […]
British Airways owner sees jump in yearly profits on healthy demand
Businessam StaffOctober 27, 2017
British Airways parent group IAG Friday forecast a 20-percent jump in operating profit this year thanks to rising demand and falling costs. IAG said in a statement that its underlying operating profit — stripping out exceptional items and fluctuations in fuel prices and exchange rates — was expected to hit 3.0 billion euros ($3.5 billion) […]
Nokia earnings fall short of forecasts amid weak demand for network equipment.
Businessam StaffOctober 26, 2017
Finnish network operator, Nokia Corp. has disclosed Thursday an abrupt drop of seven percent in its quarterly earnings from its telecommunications and network equipment business, saying global demand for the aforementioned equipment remains weak. The Finland-based network operator blamed the market saying it had become more challenging due to tough competition in China and consolidation […]
Airbnb records fastest growth in Nigeria as it strengthens in Africa
Businessam StaffOctober 25, 2017
Room rental giant Airbnb continues to enjoy rapid growth in Africa, recording the fastest growth in Nigeria. Annual guest numbers more than doubled over the past year from 572,000 to 1.2 million, the Californian company announced in a new report, with active listings up from 62,000 to 100,000. The figures show a fifth straight year of […]
GM $33.6bn Q3 earnings surpass Wall Street analysts’ expectations
Businessam StaffOctober 24, 2017
North American largest carmaker, General Motors, Tuesday performed above Wall Street analysts’ expectations, with earnings of $33.6 billion, a pre-tax profit of 2.77 billion in the Q3, as against forecast earnings of $32.72 billion. However, the automaker posted a loss of $2.98 billion on a net income basis, but that reflected $5.4 billion in unrealized […]
Fidelity Bank profit grows 65.1% in nine months
Businessam StaffOctober 24, 2017
Fidelity Bank Plc Monday declared 65.1 per cent growth in profit before tax for the nine months ended Sept. 30, 2017. The bank posted profit before tax of N16.2 billion during the period under review compared with N9.8 billion achieved in the corresponding period of 2016. The information is in the bank’s nine months financial […]
Transcorp Group records 158% growth in profit after tax on reduced financing cost
Businessam StaffOctober 23, 2017
Transnational Corporation of Nigeria Plc. (Transcorp), Nigeria’s investment conglomerate has announced Q3 2017 group profit after tax of N8.2 billion, a 158 percent year-on-year improved performance over the corresponding period of 2016. The profit profile was driven largely by a 68 .12 percent drop in financing cost as net financing cost for the reporting period […]